Jimrsquos utility function is ux y xy jerryrsquos utility, Ask an Expert

Economics

Jim’s utility function is U(x, y) = xy. Jerry’s utility function is U(x, y) = 1,000xy - 2,000. Tammy’s utility function is U(x, y) = xy(1 - xy). Oral’s utility function is U(x, y) = -1/(10 + 2xy). Marjoe’s utility function is U(x, y) = x(y + 1,000). Pat’s utility function is U(x, y) = 0.5xy - 10,000. Billy’s utility function is U(x, y) = x/y. Francis’s utility function is U(x, y) = -xy. Who has the same preferences as Jim? Explain

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91707668

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